Welch Blames Obama Administration For Poor Crisis Management

In

, former CEO of General Electric

Jack Welch commented that the Obama administration has failed to manage the Gulf oil spill properly and has done a terrible job of managing the crisis. "Here's the difference between a businessman and a politician: Businessmen focus on solutions. Politicians focus on 'who can we blame? We have to be managers right now, not politicians. No photo ops," Welch said emphatically. Welch believes that the blame-game started by the administration is acting as a ‘petty distraction’ at a time when oil continues to stream out in the Gulf. "There will be time for a criminal investigation when the oil stops leaking out of the ocean. Until then, every resource should be directed towards solving that problem," he added. Welch said that President Obama should have planned the meeting with executives of Big Oil much earlier than today. "He's got a brutal problem. He doesn't know how to manage it." Welch found it shocking that yesterday most of the competitors of BP PLC

were criticizing BP’s safety measures in deep water drilling projects, rather than defending BP, or more importantly, trying to resolve the crisis. "It's an industry-wide problem. The government needs the brainpower of the entire industry in order to clean up this mess," he said. Read more